Car fuelling with diesel

Diesel drops to lowest price in six years, petrol hits a pound per litre as fuel sales soar

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The cost of diesel has dropped to its lowest in six years, while forecourts are now selling petrol for less than £1 as the price of a barrel of oil also tumbles to its lowest price since 2009, $40.40 (£26.77).

Motorway with sign saying to check your fuel levelIn November, diesel fell to 109.48p a litre (having started the month at 109.77p) – its lowest average price since late December 2009, reports Fleet News.

Meanwhile the price of petrol continued its downward trend, falling for a fifth consecutive month.

This makes the cost of a full tank of petrol, in a 55-litre family car, £7.75 less now than it was a year ago, and a tank of diesel £8.95 cheaper than at the same time last year.

Simon Williams, RAC Fuel Watch spokesman, explained that the prices reflect the fall in world crude oil prices, which began in September 2014.

He added: "While petrol for under a pound a litre has become a reality at the cheapest retailers we would like to see this happen on a non-promotional basis."

Fuel prices may yet drop even further, Williams predicted. "As it stands, we anticipate a very slight average petrol price reduction in the next two weeks and another 2p a litre coming off diesel, taking the new six-year average low price even lower."

According to HMRC oil duty statistics for October, combined sales of petrol and diesel were 1.9% up on September at 3.905 billion litres. Sales were also up 1.8% on the previous October.

Sales of petrol stood at 1.461 billion litres, static compared with September, however October's figures show the fifth highest number of litres sold in any month since 1990, at 2.444 billion. This was 2.9% up on the month before and 3.7% up on October 2014.

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